Federal Bureau of Investigation: IntercontinentalExchange Group Inc.

IntercontinentalExchange Group Inc.: Michael Lewis s book Flash Boys and probes by the New York attorney general and Federal Bureau of Investigation are spurring outcry from Washington to Newport Beach, California, as investors and politicians ask if exchanges are rigged. Shares of Nasdaq OMX Group Inc. and IntercontinentalExchange Group Inc. have lost at least 8.8 percent in 2014 after each posted their best annual gains since 2007 and 2006, respectively, according to Bloomberg. Now you ve got it in the 2000s, with these guys who probably for the past 10 or 15 years have been developing these systems, and the real problem is the regulators are always trying to catch up, Geduld, who sold his firm Herzog Heine Geduld Inc. to Merrill Lynch a Co. in 2000 for more than $900 million and now runs Cougar Capital LLC in New York, said in an April 4 phone interview. Sometimes what it takes to get a regulator off their backside to actually look at something and say, We ve got to fix this, is public outcry. Fixed Market Scrutiny of high-frequency trading is stirring memories among investment veterans of earlier scandals when the government targeted price-fixing and fraud in U.S. equity markets. The pitch rose at the end of last week as Pacific Investment Management Co.s Bill Gross warned on Radio with Tom Keene that speed traders give the equity market a negative cast and investor Mario Gabelli said in a separate interview on Television that it rips off consumers. All the attention reminded 70-year-old hedge fund manager Buzzy Geduld of an earlier era, when allegations of misconduct by Nasdaq traders and New York Stock Exchange floor specialists shook public confidence. (news.financializer.com). As reported in the news.